CHANGES IN SUCCESSION LAWS
Probate no longer compulsory in Mumbai, Chennai, Kolkata
In a significant change in succession laws towards the end of 2025, the mandatory probate of wills in Mumbai, Chennai and Kolkata has been abolished. The Repealing and Amending Bill, 2025, which amends the Indian Succession Act, 1925, means that succession can now be decided as per the will in these cities, harmonising the process across the country, and leading to a faster and smoother transfer of assets, provided the will is undisputed.
“The repealing of Section 213 of the 1925 Succession Act means that heirs will no longer have to obtain a probate or letters of administration from a court to administer a deceased person’s estate, significantly reducing time, cost and procedural complexity,” says Bijal Ajinkya, Partner, Khaitan & Co.
However, it is also creating new concerns. “While the removal of religion-based distinctions in probate is a welcome reform, it also implies that an unprobated will leaves room for future disputes despite the completion of asset distribution,” says Sneha Makhija, Head of Wealth Planning, Products & Solutions, Sanctum Wealth.
Maternal grandkids have no right to ancestral property
In another crucial development in September this year, the Bombay High Court ruled that grandchildren had no claim to their maternal grandfather’s property. “By clarifying that coparcenary rights extended only through the paternal lineage and that grandchildren had no birthright in their maternal grandfather’s property, the ruling conclusively settled a controversy that had persisted since the 2005 Amendment to the Hindu Succession Act,” says Raj Lakhotia, Founder, Dilsewill.
As per the Hindu Succession (Amendment) Act, 2005, daughters are considered coparceners, with the same rights as sons, to their father’s property. This gave them a right over the ancestral property by virtue of their birth. However, it was not clear whether the daughter’s children had the same right to her father’s property. This was clarified in the 3 September ruling in the Vishwambhar Namdev Nikam and Another vs Sow. Sunanda Maheshankar Suryawanshi case.
FOREIGN EDUCATION TAKES A HIT
The surging aspiration for foreign education among Indians, especially to the Big Four destinations (the US, the UK, Canada, Australia), took a beating in 2025. According to the Ministry of External Affairs’ latest data, the number of Indian students going abroad for higher education in 2025 fell by 5.7%, from 1.3 million in 2024 to 1.2 million this year, after three years of continuous growth.
“Indian students today are no longer choosing destinations based purely on brand value or rankings. Instead, decisions are being driven by considerations like predictable visa process, post-study work and immigration options, total cost justifying career outcomes, and stability of the country’s education and immigration policy,” says Alok Bansal, Delhi-based international education counsellor.
Multiple deterrents, such as tighter visa requirements (especially in the US), higher fees and cost of living, lesser post-study work period, a dip in employment, changing immigration policies and a falling rupee, led many students to look for alternative destinations. Germany, France, Ireland and New Zealand emerged as the new popular destinations due to their high-quality education at lower costs. However, the rupee’s slide near the 90 per US dollar continues to add to the students’ woes.
NEW ONLINE GAMING ACT
India’s online gaming boom was sharply curtailed in August 2025, when the Parliament passed the Promotion and Regulation of Online Gaming Act, 2025. For years, online money games had operated in a grey zone, but the scale of harm eventually forced action—around 45 crore people suffered estimated losses exceeding `20,000 crore. Reports also linked these platforms to addiction, financial distress and, in extreme cases, suicides.
The new law banned online money games, including betting, card games and fantasy sports that offer cash rewards. Payment systems were barred from processing such transactions, advertisements were prohibited, and authorities were empowered to block non-compliant apps. At the same time, the Act gave a clear green signal to e-sports and casual social games.
The crackdown forced companies to rethink their business models. Many have shifted to free-to-play games, subscription models, in-game purchases and advertising revenue. Others are repositioning themselves as e-sports platforms or social gaming apps, carefully avoiding anything that resembles wagering. Some players are also eyeing overseas markets or restructuring apps to remain compliant. For the gaming industry, the focus has shifted from fast growth to finding sustainable models that work in a much tighter regulatory framework. —Yasmin Hussain
HOME LOAN RATES FALL TO 7.25%
The Reserve Bank of India (RBI) slashed its repo rate by 125 basis points in 2025, providing a significant relief to home loan borrowers. After the latest 25-bps cut in December, State Bank of India’s (SBI) home loan interest rates start at 7.25%.
Suppose you had taken a Rs.50 lakh home loan with a 20-year tenure in January 2025, just before the first repo rate reduction. Assuming that the interest rate was 8.5% per annum at the time, your EMI would be Rs.43,391, with the interest outgo over the loan tenure being Rs.54.14 lakh.
Now that the interest rate has dipped to 7.25%, you would have seen your interest shrink to Rs.35.82 lakh (savings of Rs.18.32 lakh), and knocked 42 EMIs off your repayment period. On the other hand, if you had voluntarily chosen to reduce EMIs instead of shortening the tenure, your EMI would be down to Rs.39,519, netting an interest savings of Rs.9.29 lakh, as per loan consultancy firm MortgageWorld’s calculations.
Since banks typically shorten the loan tenure and keep the EMIs constant, you would have seen a sharp drop in interest outgo. Affordability permitting, financial advisers recommend choosing interest savings in the long term over short-term liquidity boost via lower EMIs. This will help you slash your interest outgo significantly and pay off your loans faster.